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Twitter rejects Musk’s claims that he was hoodwinked Into Signing $44 Million Deal: Latest World News

In the latest World news today you are going to get all the information about Twitter Rejects Elon Musk’s Claims That He Was Hoodwinked Into Signing a $44 Billion Deal.

Elon Musk’s accusations that he was duped into signing the contract to purchase the social media business were rejected by Twitter in a court filing in Delaware on Thursday, calling them “implausible and contrary to truth.”

Musk made the allegations in a countersuit that was filed last Friday and made public on Thursday.

Musk claims that Twitter tricked him into signing a $44 billion (about Rs. 3,37,465 crore) merger agreement despite the fact that he is the multibillionaire founder of numerous companies and has received guidance from Wall Street bankers and attorneys.

According to a document that Twitter made public on Thursday, the claim made in that report is as ridiculous and untrue as it seems.

Twitter’s petition is the latest move in what is likely to be a contentious legal battle between the world’s richest person and the social media titan.

The two parties will go to trial on October 17 after Musk tried to have his deal to buy Twitter renegotiated because of what he alleges is a misrepresentation of fake accounts on the network.

The San Francisco-based company is putting pressure on Musk to uphold the agreement and claims that he destroyed it because it was no longer advantageous to him. A Musk representative did not immediately respond to a request for comment.

In the counterclaims published on Thursday, Musk accuses Twitter of stepping up efforts to conceal the genuine number of its users as the market collapsed.

The counterclaims contend that because the long bull market was coming to an end and the tide was shifting, Twitter was swimming naked when it gave the Musk Parties the information they requested. Musk has not “pleaded a shred of proof” to back up his “fact-free” claims, according to Twitter.

Highlights
• In a court filing in Delaware on Thursday, Twitter rejected Elon Musk’s claims.
• Musk claimed that Twitter tricked him into signing a merger agreement.
• The trial between the parties begins on October 17.

Also Read: Twitter Subpoenas Tech Allies of Elon Musk as Part of Lawsuit

What Twitter says About Musk’s False Accusations/

Twitter
The Indian Express

In addition, Musk claims that Twitter’s false claims concerning its spam or phony accounts “go far further than merely providing inaccurate data.”

Despite Twitter’s boasts that it has 238 million “monetizable daily active users,” Musk argues that the actual number of people who view adverts is around 65 million lower.

Twitter claims that the data it gave the SEC on its monetizable daily active users was correct.

Tesla CEO Elon Musk put in a proposal to buy Twitter in April for $54.20 per share (approximately Rs. 4,180), saying he was convinced of the platform’s potential as a universal platform for free speech. But as Twitter’s stock price fell short of his acquisition bid, he lost interest in the company and started to doubt the claim that bot and spam accounts accounted for less than 5% of all users.

In his attempt to avoid paying a $1 billion (approximately Rs. 162 crores) breakup fee on July 8, Musk cited Twitter’s reluctance to give information on the bot and spam accounts.

Four days later, Twitter sued him. This week, served dozens of subpoenas to banks, investors, and law firms that backed Musk’s acquisition bid. Musk also served subpoenas to Goldman Sachs and JP Morgan, where those firms served as advisers.

Legal experts claim that Twitter’s demands showed that the company wanted to discover why Musk turned against it or whether he had broken his obligation to secure sufficient funding.

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